Petrol prices are falling: are you under 120p yet?

Petrol prices finally started to fall with some kind of momentum towards the end of November. According to the RAC, last month saw an average price drop of 5p for petrol and just 2.5p for diesel.

That’s right — not exactly a collapse. The good news is that prices have continued to fall as we’ve headed into December. As usual, these cuts have been led by the supermarkets which announced further cuts on 7 December.

RAC figures show that the UK average price of petrol is now 121.65p per litre, with diesel down to 131.3p per litre. Further falls are “very likely” according to the RAC’s Fuel Watch service.

As I discussed last month, my experience is that prices seem to vary more widely than usual. If you’re in an area where there are no supermarket fuel stations (or only one), prices are significantly higher.

I’m still paying about 123p in the rural area of Yorkshire where I live. But relatives in the Midlands are down to about 116p.